For NEFT transfers initiated from access points, India Post Payments Bank charges a fee of Rs. 2.5-25 per transaction from its customers, according to its website. The bank charges a fee ranging from Rs. 2.5 to Rs. 20 for an NEFT transaction made through mobile banking, it noted.

Mode of money transfer

Transaction size (rupees)

Charges at access point and doorstep (rupees)

Charges for mobile banking (rupees)

Intra Bank(IPPB account to IPPB account)

Free

Free

Free

IMPS

Up to 2,000

10

5

2,001-5,000

20

5

Above 5,000

50

10

NEFT

Up to 10,000

2.5

2.5

10,001 to 1 lakh

5

5

1 lakh to 2 lakh

15

10

Above 2 lakh

25

20

RTGS

2 lakh to 5 lakh

25

25

Above 5 lakh

50

50

(Source: ippbonline.com)

For instant fund transfer through RTGS, the payments bank – which started countrywide operations in September this year – charges a fee of Rs. 25-50 per transaction, according to its website.

India Post Payments Bank customers are charged a fee of Rs. 5-50 per transaction for instant money transfer through IMPS, according to the lender’s portal.